The City of Sarnia recently bagged a substantial gaming revenue allocation for the first time in years and the timing of it appears to be right. Gateway Casinos Sarnia managed to amass gaming revenue allocation amounting to some CA$103,321 that would go straight to the city coffers. Local projects, infrastructural work, as well as beautification work are about to be powered by the said amount.
Gambling venues have many ways in which they support their host community and the people playing there. One of those is via the allocation of a percentage of the gaming revenue generated over a quarter of the fiscal year. Those allocations go to the host community as compensation for gambling operation taking place in the area.
Gaming Revenue Allocation
It is also a way for the casino operator and the Crown corporation to support and give back to the community. Gateway Casinos & Entertainment is the gaming leader overseeing day-to-day operation at Gateway Casinos Sarnia. Ontario Lottery and Gaming Corporation is the Crown corporation overseeing the process and facilitating the regular allocations. The last days of January witnessed the official opening of the gaming hall.
It is located on the premises of Hiawatha Horse Park and the special zone is able to provide locals with a diversified gaming opportunity while they enjoy premium live horse racing. January 30 saw its official opening date with many locals making their way there to see everything up for grabs. Over the weeks since then, individuals have been frequenting the gaming hall which has resulted in considerable gaming revenue generated over the fourth quarter of the 2019/2020 fiscal year.
Mid-March the gaming hall had to close for business indefinitely after only several weeks of operation. The unprecedented situation called for a lockdown Ontario Lottery and Gaming Corporation mandated for all brick-and-mortar casino locations and gaming halls. This included Gateway Casinos Sarnia which had reopened after about eight years of a hiatus.
Point Edward Loses Revenue
The first allocation amassed over those couple of weeks amounted to CA$103,321 but estimations are that the city would be able to bag about CA$400,000 over the span of a single year of gambling operation. Sarnia-Lambton MPP Bob Bailey made it clear that the financial support comes at the right time, given the current circumstances in Ontario and around the globe. Gateway Casinos Sarnia returned with 150 slot machines ready to change lives.
Starlight Casino Point Edward is often referred to as the bigger sister of this gaming hall, as it brings more diverse gaming products to the table. The casino cash allocation Point Edward city coffers received recently amounted to some CA$439,565. It relates to the same fourth quarter of the fiscal year that came to an end on March 31, 2020.
Estimations show that Point Edward has lost about CA$7,000 per day over the weeks since the lockdown mid-March. Every day of no casino operation results in a loss of gaming revenue for the casino operator and a subsequently lower gaming revenue allocation to the city coffers. Point Edward Administrator Jim Burns, said that all capital work has come to a halt, as the 2020 budget relies on the gaming revenue projected.
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